18 km² geochemical footprint of the Anubis area
along with peripheral occurrences of high-grade silver-lead-zinc and gold
mineralization suggests a very large Carlin-type mineralizing event with a
long-lived hydrothermal plumbing system

The Pyramid target is located 5 km to the west of
the Anubis Cluster and is defined by an extensive glacially dispersed
orpiment/realgar cobble field measuring 150 x 150 m and lies within a larger
500 x 200 m arsenic/thallium soil anomaly

2018 Orion Exploration Highlights

Gold mineralization associated with the Anubis Fault has now been intersected in diamond drilling over a 2.5 km strike length and to a depth of 540 m;

BDO-18-018 returned 10.73 m of 7.20 g/t gold 285 m east of the Anubis discovery.

2018 Orion Work Program

Exploration focused mainly within the Anubis fault corridor. The 2018 drill program was designed to test three high-level target concepts:

Four holes tested for mineralization along the Anubis Fault;

Eight holes targeted structural intersections; and,

Four holes assessed discrete geophysical or geochemical anomalies.

Anubis Highlight Drill Results

HOLE

FROM (m)

TO (m)

INTERVAL (m)*

GRADE (g/t)

AN-12-001

63.09

71.60

8.51

19.85

AN-12-003

69.19

85.95

16.76

9.08

AN-16-010**

18.00

79.29

61.29

2.75

*True widths for Anubis drill results are estimated to be 60% - 100% of intersected widths

**Based on the character of the mineralization and the limited drilling, it is not possible to determine the true width of AN-16-010

Geology & Mineralization

Geology

The 18 km² Anubis Cluster is underlain by favourable mid-Paleozoic limestone, silty limestone, shales and calcareous siltstones that are cut by a network of regional scale faults. Two of these regional faults – the Anubis and Northern faults – are extensional features that are believed to be mineralizing fluid conduits. Smaller scale cross-cutting faults show strong evidence for hydrothermal alteration and are also potential areas for mineralizing fluid focus.

Mineralization and Alteration

Mineralization in the Anubis Cluster shows characteristics are consistent with Carlin-type gold mineralization, as do other targets along the Nadaleen Trend. The Anubis discovery outcrop consists of highly fractured, strongly folded, jasperoid altered and decarbonatized siltstone and shale. Extensive soil geochemical anomalies in the Anubis Cluster occur with well-developed hydrothermal clay alteration developed in proximity to the feeder fault systems. The large-scale pathfinder element geochemical footprint suggests a very large Carlin-type environment with a long-lived plumbing system.

Exploration Potential

The Anubis area is covered by a thin layer of overburden making trenching challenging. However, despite the poor bedrock exposure, the pathfinder element + gold geochemical footprint in the Anubis area is stronger and larger than that of the much better defined Carlin-type gold mineralization in the Osiris Cluster, 10 km to the east.

ATAC completed a six week RAB drilling program at the Anubis Cluster in 2015 which was successful in identifying bedrock sources of gold that are likely responsible for the adjacent surface geochemical anomalies. Numerous targets remain untested within the Anubis Cluster. The most significant results from the RAB program resulted in the discovery of a new target of mineralization, 300 m west of the original Anubis discovery. This new target named Orion, intersected 47.24 m of 3.79 g/t gold and was the only hole from the program that was oriented to the north into a pyritic siltstone assemblage. Orion and the pyritic siltstone unit will be a focus of future exploration programs within the Anubis Cluster.

This discovery of high-grade silver-lead-zinc mineralization in four widely spaced areas is another very exciting development in the Anubis area. Grab samples from test pits at the Zodiac and Corona targets returned 1.03 g/t gold, 460 g/t (13.42 oz/ton) silver, 11.75% lead and 10.90% zinc and 1.62 g/t gold, 1,490 g/t (43.46 oz/ton) silver and 31.08% lead, respectively. Like the Carlin-type gold mineralization, these base metal targets are associated with fault zones cutting Paleozoic sedimentary rocks. Due to the amount of overburden cover and the early stage of exploration in the area, the relationship between the two styles of mineralization is not clear; however, at the Zodiac showing, Carlin indicator minerals realgar (arsenic) and cinnabar (mercury) clearly overprint silver mineralization. This suggests that the Anubis Fault system is a long lived structure responsible for multiple mineralizing events.

Sampling Highlights

Four surface outcrop
grab samples at the Anubis discovery returned assays of 139, 125, 122 and
84 g/t gold